This research explores the empirical association between takeover bid premium and acquired goodwill, and tests whether the empirical association changes after the passage of approved accounting standard AASB1013: Accounting for Goodwill. AASB1013 mandates capitalization and amortization of...

A compelling reason for engaging in on-market buy-backs is that it provides a signal about the undervaluation of the company. In this paper an alternative, accounting based, method of determining fundamental value and undervaluation is used, namely the Ohlson residual income valuation framework....

The conference series is a joint venture between the Economic Research Centre at the University of Western Australia and the Centre for Economic Policy Research at the Australian National University. The 2003 Conference, the sixteenth in this series, was held at UWA in Perth from 5-7 November.

A compelling reason for engaging in on-market buy-backs is that it provides a signal about the undervaluation of the company. In this paper an alternative, accounting based, method of determining fundamental value and undervaluation is used, namely the Ohlson residual income valuation framework....

This paper investigates the extent to which Australian CEOs are compensated following the completion of mergers and acquisition (M&A) deals with reference to the incentive alignment and managerial power perspective. Findings reveal that CEOs of acquiring firms significantly receive higher...

Government agencies produce indexes that purport to measure international competitiveness. The most common version is the real effective exchange rate, which is some form of weighted average of the real exchange rates of the country's trading partners. Such indexes convey a false sense of...

As the incidence of mergers and acquisitions (M&As) continues to escalate, understanding the factors that systematically affect earnings predictability becomes increasingly important. This paper examines how changes in business characteristics and forecasting environment of merging firms affect...

We investigate the existence of strategic cross-fund subsidization in SRI fund families. For asample of SRI fund families domiciled in the U.S., we find evidence of cross-fund subsidizationon performance where winning funds are subsidized by peer losing funds. However, there isno evidence of...

This paper examines the initiation of analyst coverage of IPO firms in the presence of management forecasts. For a sample of 763 Australian IPOs from 1992 to 2004, we find firms that provide a management forecast in the prospectus are more likely to receive analyst coverage, after correcting for...

This paper examines the compliance of a large sample of faith-based ethical funds – Shari'ah equity funds (SEFs). SEFs screen their investment for compliance with Islamic law, where riba (conventional interest expense), maysir (gambling), gharar (excessive uncertainty), and non-halal...